With the continuous growth of plastic products consumption in the United States, the plastic industry in the United States achieved a trade surplus of 500 million US dollars in 2018, which is rare in the manufacturing industry.
Although the U.S. plastics industry is one of the manufacturing sectors that has maintained a trade surplus for many years, the trade surplus in 2018 fell sharply compared with the $3 billion trade surplus in 2017.
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“In addition to the use of imported intermediate products in the U.S. plastics manufacturing industry, a strong dollar and sustained economic development in the United States have increased the willingness of U.S. consumers to buy imported products.” Dr. perc Pineda, chief economist of the American Plastics Industry Association, said, “this has led to a faster growth in imports than exports, narrowed the US trade surplus and showed the strong demand for plastics in the US market.”
In addition, the apparent consumption of plastic products in the U.S. in 2018 increased by 6.9% based on the difference between shipments and exports plus the sum of imports.
“Based on these reports, we believe that the U.S. plastic industry is still full of vitality, the U.S. economy maintains strong development, and the demand for plastics and plastic products continues to grow.” Tony radoszewski, President and CEO of the American Plastics Industry Association.
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